But, a combination of blockchain and biometric technology (i.e. facial recognition or retina scans) could be part of the answer. The government plans to use Estcoin as a part of Estonia’s e-residency, a program that simplifies the process for foreigners looking to establish residency in the country. Although Estonia has scaled back plans on implementing blockchain to create a national cryptocurrency, the government still has plans to use blockchain to create an improved identity management system. While Estcoin appeared to be a bit more promising, Estonia has since called off (or at least scaled back) plans of launching its national cryptocurrency after criticism from the European Central Bank. Even though the implementation of national cryptocurrencies seen thus far hasn’t seemed to work, many people view the creation of these projects as inevitable in the long-term, which will bring more efficiency and transparency to national economies. Blockchain in government has the potential to give real meaning to overly-used political buzzwords like “transparency” and create noticeable improvements in efficiency overall.
It’s still unknown when we will see these systems implemented in nations like the US. It’s still unknown how exactly to create official government-approved digital identities. In this example, identity management with blockchain makes it easier for e-residents to sign official documents and set up companies remotely. One example, smart contracts could replace the current manually-executed intra-firm agreements. Estonia is one nation aiming to change the future of identity management. It appears that the sentiment towards blockchain is beginning to change. In reality, we’re beginning to see many nations trend towards greater utilization of blockchain technology for many reasons. Nonetheless, we are beginning to see more interest as well as implementations of blockchain initiatives led by governments around the world. As we continue to see blockchain advancements and a greater demand for innovation in government, the adoption of blockchain could soon move from a technology that’s “good to have” to one that’s necessary.
There’s a common perception that technology and governments are competing against one another. While many governments are starting to tax cryptocurrency earnings, blockchain technology itself could also make taxation systems more efficient. Follow My Vote and Polys are a few examples of blockchain projects working on such technologies. The Venezuelan Petro, Russian Cryptoruble, and Estonian Estcoin are all examples of governments utilizing blockchain to create cryptocurrencies. Currently, billions of people throughout the world are reliant upon national identity numbers (i.e. social security numbers in the US) to verify identity. Other governments around the world could use this example to transform their identity management systems and reduce barriers to voter participation, government-provided benefits, and more. Blockchain reduces or even eliminates the need for manual verification, allowing businesses to optimize their operations while also ensuring governments don’t lose potential tax revenue in the process. This is likely due to the fact that cryptocurrencies, for example, reduce or even eliminate the need for centralized institutions. Even though competition between blockchain projects and government institutions could be an issue to watch out for, looking only at this possibility doesn’t show the bigger picture. Election fraud continues to be a major issue for governments around the world.
For example, the Venezuelan Petro was ruled unconstitutional by the Venezuelan National Assembly in March 2018. And many governments throughout the world have criticized this project. Since votes on the blockchain are immutable and can be tracked in real-time, governments have the potential to determine election winners in a more efficient manner. Yet many other places are as well. You can play hundreds of slots, as well as video poker, blackjack, and many other table games. The casino has embraced the mobile gaming revolution and all of the games available on a desktop can also be accessed from a smartphone. It doesn’t offer the largest selection of games – but good enough to keep any player entertained. At the surface, blockchain in government operations doesn’t appear to be a likely match. Blockchain in Government: An Unlikely Match? The time it takes to process tax-related information could be reduced drastically from weeks or months to a matter of seconds. SuperSlots also has exclusive promotions that will have you excited to open up and check their page – you’ll never know what prize might be offered this time!